As the heir to the fortune and art collection of his father, the Greek shipping magnate Stavros Niarchos, Philip S. Niarchos is believed to have one of the most valuable art collections in the world. One of his father’s greatest purchases was Pablo Picasso’s Yo, Picasso (1901), which he acquired in 1989 for $47.8 million. Niarchos has also made notable purchases of his own, such as a Vincent van Gogh self-portrait, auctioned at Christie’s in 1989, that cost him $71.5 million. Niarchos is a member of the board of trustees at the Museum of Modern Art in New York.
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